It is simple as that:
Dim IpAddress as String = ""
Dim client as New WebClient()
Dim strFile as string = client.DownloadString(String.Format("http://api.hostip.info/?ip={0}",IpAddress))
Dim xml as XDocument = XDocument.Parse(strFile)
Dim xnm as New XmlNamespaceManager(new NameTable())
xnm.AddNamespace("gml", "http://www.opengis.net/gml")
Console.WriteLine(xml.XPathSelectElement("//ip", xnm).Value)
Console.WriteLine(xml.XPathSelectElement("//Hostip/gml:name", xnm).Value)
Console.WriteLine(xml.XPathSelectElement("//countryName", xnm).Value)
Console.WriteLine(xml.XPathSelectElement("//countryAbbrev", xnm).Value)